EXHIBIT 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
For Further Information Contact:
InvestorRelations@catocorp.com
CHARLOTTE, N.C. (November 20, 2025) – The Cato Corporation (NYSE:
CATO)
today reported a net loss of $5.2
million or ($0.28) per diluted share for the third quarter ended November
1, 2025, compared to a net loss of $15.1 million
or ($0.79) per diluted share for the third quarter ended November
2, 2024.
Sales for the third quarter ended November 1, 2025 were $153.7 million,
an increase of 6% from sales of $144.6 million
for the third quarter ended November 2, 2024. The Company’s same-store sales for the quarter
increased 10% compared
2024年まで
For the nine months ended November 1, 2025, the Company reported net income
of $5.0 million or $0.25 per diluted
share, compared to a net loss of $4.0 million or ($0.24) per diluted share
for the nine months ended November 2, 2024.
Sales for the nine months ended November 1, 2025 were $496.8 million,
an increase of 2% to sales of $486.8 million for
the nine months ended November 2, 2024.
Year-to-date same-store sales increased 6% compared to 2024.
“Our positive second quarter sales trend continued into the third quarter.
We attribute this, in part due to 2024 third
quarter sales being negatively impacted by three major hurricanes over a five
week span and supply chain issues causing
late merchandise receipts to the stores,” stated John Cato, Chairman,
President, and Chief Executive Officer. “We
believe
the fourth quarter will be challenging due in part to the slowdown
in employment growth and lower expected economic
growth.
We will continue to tightly manage our expenses and inventory levels, while driving continued sales growth in
the fourth quarter.”
Gross margin increased from 28.8% to 32.0% of sales in the quarter due
to lower freight, distribution, buying and
occupancy costs as a percent of sales, partially offset by higher markdowns.
SG&A expenses as a percent of sales
decreased from 40.0% to 37.1% of sales during the quarter primarily
due to lower payroll, professional fees and insurance
costs as a percent of sales. SG&A expenses were $57.0 million, a $0.9
million reduction compared to last year. The tax
benefit for the quarter was $1.2 million versus tax expense of $0.3 million
in the prior year, primarily due to a reduction in
foreign income taxes and an increase in the roll-off of reserves for uncertain tax positions
in the current year.
Year
-to-date gross margin increased to 34.5% of sales from 33.3% in the prior year
primarily due to lower freight,
distribution, buying and occupancy costs as a percent of sales, partially
offset by higher markdowns.
The year-to-date
SG&A rate was 34.2% versus 35.5% primarily due to lower payroll and insurance
costs as a percent of sales.
Year
-to-
販管費は昨年の1億7,280万ドルから1億6,970万ドルに減少した。9ヵ月間の税効果
was $0.5 million compared to $1.6 million tax expense last year, due to a reduction in foreign
income taxes and an
当期における不確実な税務ポジションに対する引当金のロールオフの増加。
Year
-to-date, the Company closed 16 stores.
As of November 1, 2025, the Company has 1,101 stores
in 31 states,
これに対し、2024年11月2日時点では31州で1,167店舗を展開している。
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